competition. >> the problem have right now is the regulatory framework lead to the dominance of the big three. that market has to be opened up, or there can't be any competition. >> assessing government that is big business. the experts cast out to set up a european ratings agency as a counterweight to commercial agencies. >> with you think about a state run ratings agency issuing national ratings, it is hard to see those ratings as credible. >> whether or not investors believe that will ultimately be repaid. >> it is not just about creating new rating agencies, rising economies are also calling for the establishment of independent agencies in their own countries. and there are calls for 80-20 agency as well. they point to the example of italy this week but came under attack by financial markets. the country is the third largest economy in europe. the borrowing rates are a white- collar form of strongarm robbery. a specially as rome is considering more cuts. >> other crisis, at this time is italy's finances in trouble. national that is almost 120% of gdp. twice the amount allowed. the h